Columbus OH – Bear Stearns was a survivor. It
survived the Great Depression without laying off any employees. It survived
World War II, and 9/11. What killed it off during a time of peace and relative
stability?
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The problem was that it had engorged itself on risky mortgages. In my opinion,
the banks were playing a risky game. They would make risky loans and then sell
them to Wall Street Firms like Bear Stearns.
The Wall Street Firms would pay a premium because of the high interest rate on
the loan. They would then resell the risky loans for a profit.
They would sell the loans to the general public (most likely for more than they
had paid for them.) They would take a package of loans and
"securitize" that bundle. Here is an example of how this would work.
New Century Financial issues a loan to you. New Century then sells that loan to
a Wall Street Firm, along with 900 other loans.
The Wall Street Firm then takes that bundle of mortgages and "slices and
dices" the ownership of them. They would sell certificates that
represented ownership of a percentage of that bundle of loans.
Let's say they had a bundle of 1,000 loans. They might sell 10,000
certificates. Each certificate holder would get some of the monthly payments.
But, here is where it got even more crazy.
The Wall Street Firm would sell better quality certificates and lower quality
certificates. They laid out guidelines, that if 10% of all the loans in the
bundle defaulted, then the lowest quality 10% of certificates wouldn't get paid
any money at all.
It used to be that you borrowed money from a local banker you knew and trusted.
That bank would expect you to pay on time. If you didn't pay, then that bank
lost money.
They didn't transfer all the risk to Wall Street or someone else. If they gave
out bad loans, they lost the money personally. With these crazy, engineered
loans, the person losing the money could be anywhere in the world.
Maybe in China, Dubai, or Norway. Or, the owner of the loan could be your
co-workers' Pension Plan. CALPERS, which stands for California, Public Employees
Retirement System, supposedly lost a lot of money on these certificates.
I heard that they invested in these risky certificates. Why? They wanted to
earn a better interest rate on their investments. When the housing market
crashed the certificates they owned dropped in value.
Lets say that you live in California and your mortgage was "sliced and
diced" by Wall Street and CALPERS bought one of those "slices."
So they could own some of your mortgage.
Your neighbor might have a CALPERS's Pension, thereby owning a percentage of
your mortgage. Sounds crazy, right? Thinking about
a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a free
consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to modify
your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: How Banks Were Able To Make Risky
Loans With Little To No Risk is provided as a courtesy to our viewers to help
them make informed decisions.
Columbus OH – Convincing a lender to approve a
short sale isn't that difficult when you know the guidelines they are forced to
follow. I have mentioned it elsewhere on this blog, but I will mention it
again.
Around 80% of all loans held by large national lenders (such a Bank of America
or Wells Fargo) are not owned by that bank.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
In these cases, the lender is acting as a servicer for the actual owner of the
loan. They will approve or reject the short sale based on the guidelines the
owner of the loan gives to them.
In some cases, such as an FHA or VA insured loan, the insurer will lay out the
criteria on whether to approve or reject a short sale offer.
Here are the two steps we use to find the guidelines for approval
or denial of a short sale offer.
Step #1: Find out the owner (or insurer) of the loan. We have a checklist that we follow to do this research.
Step #2: Find the guidelines that the owner (or insurer) gives
lenders for processing short sales. The majority of all
mortgages are owned or insured by 6 types of investors/insurers.
The first type of loan owners are the Government Sponsored
Enterprises (GSEs.) They are nicknamed Fannie Mae and Freddie
Mac. Around 55-60% of all mortgages are owned by them.
Fannie & Freddie do not publicize their short sale approval guidelines.
But, we have a good idea of how their guidelines work, based on past experience
with their short sales.
Here is the good news. If your loan is owned by
one of these entities, you will most likely be able to short sale with no
deficiency judgment. That has been their policy for a while.
However, there are two caveats. If you have Mortgage Insurance (also called
PMI), the Mortgage Insurer may ask for a promissory note.
There is almost no way to know up front if the Mortgage Insurer will ask for a
promissory note. It is hard to find out who the insurer is before you start the
short sale process.
In addition, they ask for promissory notes on a case by case basis.
(If you are concerned about a deficiency judgment or a promissory note, then
email me. I can research your situation and see how your situation compares
with other sellers we have helped in the past.)
Here is the other caveat for a short sale deficiency judgment on
a Fannie or Freddie loan.
If it is determined that you have the financial ability to pay the mortgage,
then Fannie and Freddie's policies reserve the right to pursue you for a
deficiency judgment.
Now, whether or not they will pursue you is another matter. In my experience,
Fannie and Freddie are disorganized.
Therefore, it is my opinion that the likelihood of them pursuing you for a
deficiency judgment is low. Why I think that is another story for another day.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495.
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute
are not affiliated in any way, shape, or form with the government. Our services
have not been reviewed or endorsed by the government or your lender. Most
lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Yes, There Actually Are Guidelines For Lenders Approving Or
Denying A Columbus Short Sale is provided as a courtesy to our viewers to help
them make informed decisions.
Columbus OH – There is a debate among short sale
realtors on how to handle offers on short sales. Some realtors think you should
accept only one offer on a short sale and then push that offer thru with the
lender.
Another group thinks an agent should keep soliciting offers until the lender
approves one.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
There are pros and cons for each group's idea. I
personally think that a middle ground is best. If you submit multiple offers,
then the short sale negotiator may get confused.
Most short sale negotiators have 50-100 files on their desk. You try keeping
track of all that data! This is why I only present one offer to the lender at a
time.
However, I always like to solicit backup offers. Once the BPO is completed, I
know what the lender is looking for. At that point, I can adjust the asking
price to that number.
I can also tell buyers that their offers will be processed much faster. This
causes more buyers to make an offer. If the lender turns down the initial
offer, then I have much better information to work with.
I can tell buyers what price they need to make an offer, the terms, and how long
it will take for them to get an answer. The next offer will have a much better
chance of success.
This causes you, the short sale seller, to increase your odds of a successful
short sale. After all, you are much more likely to get the debt completely
forgiven on a short sale, versus a foreclosure.
It also helps you salvage your credit. That is why I get so frustrated when I
see short sale lenders reject offers only to sell the property for much less as
a foreclosure.
In that case, the homeowner is liable for a bigger deficiency judgment. In
addition, the sellers suffer more damage to their credit. Thinking about a
short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sale Question: Accept Only One Offer At A
Time Or Multiple Offers? is provided as a courtesy to our viewers to help them
make informed decisions.
Columbus OH – A hardship letter is one of the
most important items in a short sale. This is your opportunity to explain why
your lender should approve your short sale and let you walk away from the debt.
In clear terms, you need to layout exactly why you can no longer afford to keep
the property.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Under no circumstance should you say any of the
following.
* "I don't want the house anymore."
* "It doesn't make sense to keep the house because it isn't worth what I
owe on the mortgage."
* "I can afford the house, but I think paying the mortgage is a bad
investment."
Absolutely do not say anything like that. Instead, say the following.
* "Our income went down and we can no longer afford the house."
"I lost my job and we are running out of money fast."
* "I would love to keep the house, but our financial state forbids
that."
Your hardship letter is your best shot at selling the short sale
negotiator on approving the short sale and releasing you from the debt.
What you say matters.
Here is a sample layout for a hardship letter.
Your name and the address of the property.
Your mortgage company info and your loan number.
State that you are having problems and would like to sell your property as a
short sale.
State the reasons you are having financial problems.
Explain your situation in a little more detail.
Finalize the request.
Put your name down.
Sign and date above your name.
Here are some of the acceptable hardships you can put in your
hardship letter.
Loss of job.
Loss of income.
Business Failure.
Unexpected medical bills.
Military Duty.
Death in the family.
Imprisonment.
Illness of breadwinner.
Forced relocation for work.
Please keep in mind that a real person will read your hardship letter on the
other end. That person is usually very busy.
It is helpful to bold certain items and keep the letter under 2 pages long.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on How To Write A Hardship Letter For A Columbus Short Sale is
provided as a courtesy to our viewers to help them make informed decisions.
Columbus OH – First, it benefits the owner of
the loan. The owner can be the bank or a third party such as Fannie Mae or
Freddie Mac. They are Quasi-Governmental Entities.
The American Taxpayer has bailed them out to the tune of hundreds of millions
of dollars and will continue to bail them out for any future losses.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
These two entities own about 55-60% of all American Mortgages. So,
it is very likely that a short sale benefits not just them, but also every
single American Taxpayer.
Two other entities insure another 10-20% of all American Mortgages. Those two
entities are FHA and the VA Loan Program. All veterans benefit from a short
sale of a VA Loan because it helps reduce losses on the VA Loan Program.
Up until recently many experts speculated that the FHA Loan Program would need
a bailout. Fortunately, the program's finances have improved and it looks like
it will no longer need a bailout.
But, every short sale that helps the program reduce its losses helps it move
further away from a bailout.
I am sure you are asking, "Why does a short sale help a bank
reduce its losses compared to a foreclosure?"
The reason is because they get to sell the house at today's price, versus what
it will be worth 6-12 months down the road. I just did a comparison and pulled
up sold listings.
All of the listings were of similar properties in similar neighborhoods. First,
I looked up the average selling price per SQFT of homes that sold in Spring.
They sold for an average of $103 a SQFT.
Then, I pulled up homes in the same neighborhoods that sold as REOs in the last
2 months. They are sold for an average of $85 a SQFT. These homes average 1,700
a SQFT. That means a 1,700 REO sold for $30,600 less.
Ouch!
The other person that's getting value is the buyer. They get a better deal in
today's market than buying a home from someone who is trying to squeeze out
every penny.
You, the seller also benefit. You will be eligible
to buy another home in 24 months. You have a better chance of getting a job,
because many employers check that nowadays.
A short sale is a win - win for everyone involved. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your lender.
Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on A List Of Everyone Who Benefits From A Columbus Short Sale
is provided as a courtesy to our viewers to help them make informed decisions.
Columbus OH – There is a hidden secret in the
foreclosure business. Many lenders are losing money by turning down loan
modifications.
Here is how it works. A borrower offers to pay his lender the monthly payment
for a $400,000 mortgage. The lender turns it down and forecloses on the
home.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
They put the home on the market and it ends up selling for less than $400,000.
If it sells for $350,000, then we could easily argue that they lost $50,000.
Let me give you a real life example.
A person buys a house for $300,000. The local housing market declines and the
house is now only worth $220,000. The homeowner's income drops and now they can
only afford to pay the equivalent of a $220,000 mortgage payment.
They request a loan modification. Their lender turns it down. The house goes to
foreclosure. Eventually, 18 months later the home is foreclosed upon. The homeowners
move out.
The lender lists the home for sale. Because of the continued decline in the
housing market, the house ends up selling for $180,000.
The moral of the story is: The lender would have been better off accepting the
$220,000 loan modification versus foreclosing and selling the property for
$180,000. What do you think?
Let me know your thoughts by putting a comment below. Thinking about a short
sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: How Your Bank Benefits When They
Approve A Loan Modification You Can Afford To Pay is provided as a courtesy to
our viewers to help them make informed decisions.
Columbus OH – There are many benefits of a short
sale. Many people don't see the benefit. They don't do anything to avoid
foreclosure and let their bank foreclose.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Benefits of a Short Sale:
1. A short sale often allows the seller to walk away owing
nothing. You are often able to negotiate away all the debt.
Banks know they will net more money with a short sale versus foreclosure.
In fact, a recent study showed banks would net 20% more money with a short sale
versus foreclosure. Because of this, most short sale banks completely forgive
the debt.
Yes, they might be losing $100,000, or more. However, they would rather cut
their losses and let you go free.
2. Short Sale Sellers are eligible to buy another home much
faster. For example, Fannie Mae recently released a guideline
for sellers who short sale.
If you short sale, then you are eligible to buy another home two years after
the short sale.
3. A Short Sale preserves your dignity. You won't
have a "Notice of Foreclosure Sale" posted on your door while you
still live in the neighborhood.
4. A Short Sale does less damage to your credit.
Your credit score typically drops by 250 to 300 points on a foreclosure. With a
short sale, your credit may only drop by 50 points, provided you are current on
all your obligations.
Cons of a Short Sale:
1. There is no guarantee your bank will accept the short sale offer. However,
banks are working very hard to improve their processes. They want the short
sale process to become easier to work with.
2. The bank will want to see all documentation on your income and assets.
3. Short Sales do not always go fast. They can drag on for 3-6 months. However,
you can still live in the home for free during that time.
A short sale is a good option for most homeowners. It allows you to get rid of
the debt and move on with your life. Many people rent another home for less
than their mortgage payment.
In one example, a homeowner in foreclosure found a larger home with a garage.
It even had a fenced backyard for their kid. Their mortgage payment was around
$1,500.
They rented the nicer, bigger house for $850 a month and saved $650 a month.
Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on The Pros And Cons Of A Columbus Short Sale is provided as a
courtesy to our viewers to help them make informed decisions.
Columbus OH – The Stop Foreclosure Institute
recently received a question from Werner. “I am behind on my payments and
thinking of just letting my home go into foreclosure. What does that do to the
neighborhood?” he asked.
Here is our answer to his question. It does hurt
the neighborhood. But, it also hurts you.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Most banks do not do a good job and processing and handling
foreclosures. They take 12-18 months to foreclosure on a house
and then sell it.
In the meantime they do little to maintain the home. I estimate that half of
all the properties I have seen in foreclosure have never even been checked on
by the lender.
It has gotten so bad that one homeowner even started up a website
to report on these banks. The website is called Lender Offender.
Check it out here: www.LenderOffender.com.
In my opinion these banks are not being responsible with these properties.
The biggest problem is that Uncle Sam usually takes the fall for
any loss.
Uncle Sam does this by guaranteeing them against loss on many mortgages. Or in
other cases, Uncle Sam has already bought the defaulted loan from the bank.
The homes eventually sell for a discount after the foreclosure. No home buyer
is going to pay market value for a home that needs repairs!
This gives the banks little incentive to check on these properties. Fortunately
you can help. Stay in your home until it sells. Keep it looking good and
everything in good order.
Then, put it up for sale as a short sale. That will help protect the property
values in your neighborhood. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on How A Columbus Short Sale Can Help You And Your Neighbors
Avoid The Side Effects Of A Foreclosure is provided as a courtesy to our
viewers to help them make informed decisions.
Columbus OH – If you are facing foreclosure,
then I'm sure you've heard of a Deed In Lieu of foreclosure. Some people say it
is a great way to avoid foreclosure.
Actually, all it does is accelerate the foreclosure process.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here are the most common myths about a Deed In Lieu.
Common Myth #1: If I do a Deed In Lieu, then I
will not owe the lender any more money. A Deed In Lieu is
similar to a No Contest Plea.
The judge stops analyzing the foreclosure case and simply schedules the
foreclosure auction. Unless otherwise stipulated, the lender still has all the
deficiency and future collection rights. They may come after you for the loss.
Common Myth #2. A Deed In Lieu is better for my credit than a
foreclosure. I've heard many people say, "A Deed In Lieu is
better for your credit because you avoid foreclosure."
It's kind of sad to hear them say it. After you sign all the Deed In Lieu
paperwork, then your house will still be sold at a foreclosure auction. Any
person can actually bid on the house at the auction.
Common Myth #3: A Deed In Lieu Is easy. This is
absolutely not true. The process required a lot of follow up with the lender.
Most lenders require you submit all your financial information.
They want to make sure that you genuinely cannot afford the property. The
process often takes between 20 and 40 hours over the course of several months.
First, you submit your paperwork. Then, you call your lender to make sure they
received your paperwork. Then, you have to wait while they review it.
Then, you have to answer any question or provide more paperwork they request.
To me this is insane. Why not just live for free until your lender forecloses?
A Deed In Lieu of foreclosure offers almost zero benefit to you. So why go thru
the aggravation?
That is why I always recommend a short sale over a Deed In Lieu. Thinking about
a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here.
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you speak
with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real estate
sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Why A Columbus Short Sale Is A Better Alternative Than A
Deed-In-Lieu Of Foreclosure is provided as a courtesy to our viewers to help
them make informed decisions.
Columbus OH – We are often asked by short sale
sellers whether or not they should continue paying their mortgage payment while
they attempt to short sell their home.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Here is the quick answer. Yes, if you care about
your credit rating. No, if you don't care about your credit.
However, many people think that in order to be eligible for a short sale you
must stop paying your lender. That is not true.
Many lenders will approve a short sale, even if you are current on your
payments.
They will consider a short sale based on another hardship, such as a job
transfer, job loss, or if you foresee that you won't be able to make the
payments in the near future.
Should you stop making your payments? I am not a lawyer, and therefore cannot
give legal advice. I can only tell you my opinion. It all comes down to what is
most important to you.
If reducing damage to your credit rating is important, then continue paying for
as long as possible. Continue paying your lender until the sale closes.
Halfway into the short sale negotiations, the lender may tell you that they
will not process the short sale until you are late on the payments. At that
point you can make the decision to continue or stop making payments.
There are some reasons to stop paying your lender during a short
sale.
1. You are tight on money. Yes, you will suffer
additional credit damage. But, the benefit of using that money for other bills
may outweigh the credit damage.
2. You are concerned about a deficiency judgment or promissory
note. Many lenders will ask you for a promissory note if they
think you have the extra money.
If you want to reduce that likelihood, then you can decide to stop paying. That
decision comes with all the side effects such as credit damage and other
problems.
Many people also say that is unethical. (I am not going to comment on that. One
could make the argument both ways. Every person has to decide what is best for
them and make their own personal choices.)
Disadvantages of not paying your mortgage.
1. Credit Damage. You will suffer more damage to
your credit. That credit damage should go away in 2-3 years.
In addition, some people use a dispute strategy to get the derogatory marks
removed much faster. Some get them removed in 6 months.
The point of this article is that contrary to public opinion, you do not have
to stop paying your lender in order to short sale your home.
You can minimize the credit damage by continuing to pay until the short sale
closes. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Columbus Short Sale Question: Should I Stop Paying My
Mortgage During The Short Sale Process? is provided as a courtesy to our
viewers to help them make informed decisions.
Columbus OH –There
are many reasons to use a short sale to stop foreclosure. If you want to keep
your home, then you need to attempt a loan modification.
If you do not want to keep your home, then you need to consider your options.
There are 3 options if you do not want to keep your home.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
Option #1: Do nothing and the lender forecloses on
the house.
Option #2: Deed in Lieu of Foreclosure. I don't
recommend this as detailed in yesterday's
column on Deed in Lieu
Option #3 is a short sale. Here are the benefits a
short sale offers over a Foreclosure or Deed in Lieu.
You will be able to buy another home in the future.
Current Fannie Mae Guidelines allow you to purchase another
house 2 years after a short sale.
Fannie Mae is the most common loan people get and most lenders have policies
similar to them. After a foreclosure, the current Fannie Mae Guidelines require
you to wait 5-7 years before getting a new loan.
How will a short sale or foreclosure affect my ability to get a
loan in the future? After a foreclosure any future application will require you to answer the question, "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" you'll have to answer that question yes.
If you short sale, then you can state
"No" because you short sold your home. You only have to say yes if
the bank completes the foreclosure.
How will my Credit Score be impacted? After a
short sale, the mortgage is normally reported as "paid in full,
settled." So the biggest impact will be from late payments.
This lowers your score as little as 50 points if all other payments are being
made. Most lenders review late payments in the last 12-18 months. After that,
they become less important.
After a foreclosure your score is typically lowered by 250 to 300 points, or
even more. This often stays on your credit score for over 3 years.
Will I owe my lender any money for the shortfall?
Few lenders ask for a promissory note on a short sale. In the
rare case they do ask for one, then they usually request the borrower repay
them a percentage of their loss.
As an example, a property we short sold, the bank lost over $120,000. They
settled with the seller for $25,000 to be repaid over 15 years with zero interest.
The seller's monthly payment was only $138.89.
Many lenders take 12-18 months to foreclose upon a property and resell it. This
dramatically increases the loss and makes any deficiency judgment potentially
bigger. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on How A Columbus Short Sale Can Stop Foreclosure is provided
as a courtesy to our viewers to help them make informed decisions.
Columbus OH – I
have feared this for a long time. But today I found out that it is actually
happening. Here's the story.
Someone is short selling their home. The mortgage is with ABC Bank. They happen
to have their checking or savings account at ABC Bank.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
They stop paying on their mortgage. They thought their checking account was
safe because it is a different account from their mortgage.
Then one day their debit card stops working. "Hmm, this is weird. I know I
have money in this account. It should be working", they think to
themselves.
They go check their bank account balance and find out it has been
sucked dry. In addition, their savings account has been wiped
out as well. What could have happened?
Their lender levied their bank accounts to pay the mortgage that
month. The sad thing is that most people in this situation are
close to broke. Having their last bit of savings wiped out is devastating.
Now they don't even have enough money for gas to get to work. Here is how to
avoid having this happen to you. If you get behind on any type of loan, then
make sure your checking and savings accounts are with a separate entity.
If you are behind on a car payment, then move your account elsewhere.
You want to make sure that your bank is not owned by the same
institution.
For example, Wells Fargo recently purchased Wachovia. JP Morgan Chase purchased
Washington Mutual. Bank of America purchased Countrywide.
Now, some people think this doesn't matter because these lenders are so big.
"Bank of America is huge! They will never notice that I have my checking
account with them", they tell me.
Yes, that is often true. They might not notice. Or, I've had people make the
argument that they aren't allowed to levy a bank account. Yes, that might be
true as well.
But do you have time to read thru the 20 pages of fine print for when you first
opened your checking account? I'm not a lawyer and I would never try to go thru
all that.
It's much simpler to simply move your account elsewhere before you miss a
payment. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Rick & Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed
reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on Thinking About A Columbus Short Sale? Don't Let Your Lender
Levy Your Bank Account is provided as a courtesy to our viewers to help them
make informed decisions.
Columbus OH – People with a VA loan often ask if they are eligible for a short
sale. The answer is yes. A VA Short Sale is called a VA Compromise Sale.
The Department of Veterans Affairs publicly releases copies of the Compromise
Sale Guidelines. We usually list the property for sale and then submit all the
short sale paperwork after a contract is accepted by the seller.
Click
here to discover how other sellers successfully did a short sale and avoided
foreclosure. http://columbusohshortsaleadvisors.com/
The lender will order a VA Appraisal. All the appraisals go thru a VA Loan
Center. There are 9 Regional VA Loan Centers as of today. After the appraisal
is done, I always call the local VA Loan Center. I fax them a request for a
copy of the appraisal.
Upon receipt of my request they fax me a full copy of the
appraisal. I can see everything on the appraisal.
All the comparable sales they used, etc.
I love it because it makes the short sale process more transparent. Now if only
we could get Fannie Mae & Freddie Mac to do the same thing! If I think
the appraisal has inaccuracies, then I can request a dispute.
Most of the Loan Centers have an appraiser on staff that handles disputes.
Here is how to find out if you have a VA Loan.
On the mortgage recorded in the public records, usually 1-4 pages past the
signature page will be a VA Rider. At the top it will say "NOTICE: THIS
LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS
AFFAIRS."
The link below is for a VA mortgage. The page for the VA mortgage was 2
pages below the original signature page of the mortgage. The pages between this
and the signature page had the notary signature and the legal description.
http://gainesvilleshortsaleblog.com/wp-content/uploads/2012/08/VA-Mortgage.jpg
These are fairly simple short sales. They are tougher than others
because VA will not accept a sales that nets them less than
88.13% of the VA appraisal.
I don't think they allow exemptions. I don't know because I have never asked
for one. The lenders are not delegated, at least not in my experience. The
process is the lender assembles a package and submits to VA.
Will I get a Deficiency Judgment on a VA Short Sale?
They will give a complete release if a seller participates in
the short sale program.
But, the borrower has to pay back the loss to be eligible for a VA loan again
in the future. Thinking about a
short sale?
I can help you short sale your property and get back on your feet. Send me an
e-mail at robin.lemmons@kingthompson.com.
I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any
questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a
free consultation by clicking
here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the
instructions you will need to get a loan modification approved with your bank.
Click
here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Robin Lemmons.
Rick & Robin Lemmons is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Columbus Loan Modification Help, Columbus Short
Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH
Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important
Notice
Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure
Institute are not affiliated in any way, shape, or form with the government.
Our services have not been reviewed or endorsed by the government or your
lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to
help you on a short sale, your lender may not agree to a short sale or to
modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else
in life. It takes work and persistence to convince your lender to modify your
loan. No matter what you or we do, your lender may not approve a loan
modification.
We do not recommend that you stop paying your mortgage, because this will cause
damage to your credit and could cause you to lose your home. Because we know
avoiding foreclosure is so important to any homeowner, we recommend that you
speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a
licensed professional before making any decision. Information is deemed reliable
but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your
lender if it does not meet your approval. If you decide not to go thru with the
short sale, then you do not have to pay us our fee. We normally make a real
estate sales commission for helping you on a short sale.
The views expressed here are Robin's personal views and do not reflect the
views of Coldwell Banker King Thompson.
This information on How a Columbus Short Sale Works When You Have A VA Loan is
provided as a courtesy to our viewers to help them make informed decisions.
